HS Code Guide · EPM Subvention
HS Code 071310 Meaning — Peas (Pisum sativum), dried & shelled: Global Trade, India & Factoring Guide
HS 071310 covers peas (pisum sativum), dried & shelled. This guide explains what the code includes, its global trade, India's position, how GIFT City helps factor it, and whether MSME factoring qualifies for the 2.75% interest subvention.
What this HS code covers
HS 071310 sits in 07 — Vegetables. Official tariff description: “Vegetables, leguminous; peas (pisum sativum), shelled, whether or not skinned or split, dried” In plain terms, it covers peas (pisum sativum), dried & shelled. Classification decides duty and documents; this 6-digit line is in the DGFT positive list (Trade Notice 25/2025-26 Annex V), so MSME factoring under it qualifies for the 2.75% subvention — details below.
What is HS 071310?
HS 071310 covers dried shelled peas — Pisum sativum — whole, skinned or split, not cooked or prepared.
Official description: Vegetables, leguminous; peas (pisum sativum), shelled, whether or not skinned or split, dried
What HS 071310 does in trade
- Separates dry peas from chickpeas (071320), lentils (071340) and beans — grade drives price.
- Is eligible — dry peas are in the positive list, so factoring qualifies for 2.75%.
- Enables factoring for a staple pulse with 30–60 day terms to processors.
Global perspective — where HS 071310 moves
World dry pea trade ~5 MT, with Canada and Russia dominating supply. Feed, split-pea milling and snack use drive demand.
| Top global exporters | Top global importers |
|---|---|
| Canada | India |
| Russia | China |
| United States | Bangladesh |
| Australia | Spain |
| France | Pakistan |
India's stance on HS 071310
India is the largest dry pea importer and a producer — UP, MP hubs. Exports are Re-exports and niche; APEDA registers exporters.
Export docs to watch
Peas need APEDA RCMC, phytosanitary and grading.
GIFT City — factoring HS 071310 in foreign currency
Peas are bulk INR/USD to processors — GIFT or India factor both eligible.
Trad can route eligible invoices via an IFSCA-regulated IBU or Finance Company/Finance Unit undertaking factoring in GIFT City. The 2.75% subvention is identical whether you factor via India (RBI-regulated) or GIFT City (IFSCA-regulated) — the choice is about currency, banking relationship and buyer location, not the benefit rate.
Common financing stack for this HS
Factoring advances 70–90% in 24–48 hours after invoice verification; balance minus discount/fees on buyer payment. Works alongside packing credit — factoring covers the post-shipment open-account gap.
MSME subvention — is HS 071310 eligible for 2.75%?
Yes — HS 071310 is in the positive list (Trade Notice 25/2025-26 Annex V). MSMEs involved in international value chains with a valid active IEC (not in DEL) and valid Udyam can claim 2.75% per annum on the factoring interest cost element when factoring via an RBI/IFSCA-regulated entity.
| Check | For HS 071310 |
|---|---|
| In positive list (HS-6) | Yes — 071310 listed in Annex V |
| Benefit | 2.75% p.a. on interest cost element |
| Annual cap | ₹50 lakh per MSME per FY |
| Valid from | Prospectively from 20 Feb 2026 |
| Need UIN per factor? | Yes — declaration of intent before factoring, valid till FY-end |
| Eligible factors | RBI-regulated (AD bank / factoring NBFC) or IFSCA-regulated (GIFT IBU/FC) |
| Not covered | Deemed exports (FTP Ch.7) & exports to SEZs |
Eight-digit HS? Use first 6 digits
Eligibility is at HS-6. If your 8-digit HS (e.g. 07131010) starts with 071310, it inherits this eligibility. Verify on the HS checker — enter 6 or 8 digits.
Check HS 071310 — free
Verify any 6 or 8-digit HS against the DGFT positive list and see the 2.75% factoring eligibility in seconds.
Open HS checkerFrequently asked questions
What is HS 071310 — Peas (Pisum sativum), dried & shelled?
HS 071310 covers dried shelled peas — Pisum sativum — whole, skinned or split, not cooked or prepared.
Is HS 071310 eligible for the 2.75% interest subvention?
Yes. HS 071310 is in the DGFT positive list (Trade Notice 25/2025-26 Annex V, 4139 HS-6 lines). MSMEs factoring exports under this line via RBI/IFSCA-regulated factors can claim 2.75% per annum on the interest cost element, capped at ₹50 lakh per MSME per year, prospectively from 20 Feb 2026. Requires valid IEC (not in DEL), valid Udyam, and a UIN per factor obtained before factoring.
Who can claim the 2.75% for HS 071310 and how?
MSMEs (as defined by Ministry of MSME) with active IEC and Udyam, factoring eligible exports of HS 071310 via RBI/IFSCA-regulated entities. File a declaration of intent on the DGFT portal to get a UIN per factor (valid till FY-end), factor the invoice, the factor files monthly IEC-wise claims; subvention is credited to your IEC-linked bank account.
Can HS 071310 be factored via GIFT City?
Yes. IBUs and Finance Companies/Finance Units undertaking factoring in GIFT City (IFSCA-regulated) are eligible financial institutions under IFSCA circular 19 Mar 2026 and must extend the 2.75% benefit. Useful for USD/EUR receivables where you want foreign-currency factoring.
What does factoring for HS 071310 cost after subvention?
Indicatively, factoring discount/interest is priced commercially (often 8–12% p.a. depending on buyer, tenor, currency) plus factoring fee ~0.5–3% ⚠️. The 2.75% offsets only the interest element — e.g. a 9% interest cost becomes ~6.25% effective on that element if eligible. Fees/insurance/FX remain. Compare all-in cost.
Related HS codes
Compare HS 071310 with other MSME-export lines in the same chapter or family.
See all codes on the HS code guides hub, or read the 2.75% subvention deep-dive.